21st May 2024

President Nana Addo Dankwa Akufo-Addo

President Nana Addo Dankwa Akufo-Addo says his government will ensure that the country’s petroleum revenues are well managed for the benefit of all Ghanaians.

To this end, he has said that the government is fully committed to supporting the Public Interest and Accountability Committee (PIAC) in its work.

He further revealed that his government has since 2017 ensured that budgetary allocations to PIAC are released to enable it undertake its activities.

“In 2020, for example, an amount of three million, one hundred thousand cedis (GH¢3.1 million) was given to PIAC, with two million, three hundred and fifty thousand cedis (GH¢2.35 million) set to be released for this year, in spite of the pandemic.

“Indeed, the Committee utilised a part of its 2018 budgetary allocation to procure its current office building at East Legon, in Accra, which brought an end to the era of evictions and threats of eviction by landlords. For as long as I remain President, support to PIAC will be forthcoming and on time,” he said.

The President said this yesterday at the 10th anniversary celebration of PIAC held at the Kempinski Hotel.

Frosty relations

The President further acknowledged the warm relations between PIAC and the government which, unlike the past, was not there. This, he added, has resulted in the prudent use of Ghana’s petroleum revenues for the welfare and benefit of the Ghanaian people.

“I commend Dr Steve Manteaw for his lucid review of PIAC’s history and evolution, and I am happy to state that, for a change, I agree with his comments. We see here the value of freedom of speech in our system of governance of an open society.

“We must also thank Prof Joe Amoako-Tuffuor, Secretary of the Government’s Economic Management Team, for his invaluable contribution to the elaboration of the PRMA and its significant impact on the operations of PIAC,” he said.

The President, however, bemoaned the delay in transmission of information between PIAC and the Ministry of Finance emanating from the distortions in the deadline schedules of the reporting obligations of the two institutions.

“This has, sometimes, stoked controversy which, in my view, has not been helpful, and an amendment of the relevant provisions in the Petroleum Revenue Management Act could help resolve this situation,” he said.

Mutual interest

President Akufo-Addo urged the Ministry of Finance and PIAC to bring back their quarterly meetings to ensure that issues of mutual interest and concern are addressed through dialogue.

Aside that, he charged PIAC, in its publications, to help provide the general public with a better understanding of how petroleum resources are managed, and clarify swiftly its position on matters, should it be misconstrued in the media space.

He also encouraged them to continue to engage government and relevant stakeholders, and help work towards the economic transformation of Ghana through the efficient use of Ghana’s hydrocarbon resources.

“Government is committed to its continued solidarity with PIAC, and assures it of Government’s considerable interest in all of its activities. I am hopeful that the co-operation between Government and PIAC will be deepened even further in the coming years for the goal of a united, progressive and prosperous Ghana,” he said.

 

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